Core One Labs Unaware of Any Material Change that Would Account for Significant Share Price Depreciation

Rhea-AI Summary

Core One Labs Inc. (OTC PINK:CLABF) has announced that it is unaware of any material changes that could explain its recent share price decline. The company cited potential manipulation techniques including spoofing and wash trading affecting its stock. Core One also highlighted the issue of predatory short selling prevalent among smaller market cap companies and called for regulatory reforms to combat these practices. The company is focusing on developing psychedelic therapies and holds an interest in medical clinics with a substantial patient database.

Positive

• Core One is developing innovative psychedelic therapies with a patent-pending thin film oral strip for effective delivery.
• The company has access to a large patient database of over 275,000 through its medical clinics, potentially aiding research.
• Core One is actively seeking regulatory approvals to advance psychedelic-derived treatments for mental health.

Negative

• Recent share price depreciation raises concerns about market confidence and potential manipulation affecting investor sentiment.
• The company faces risks associated with the regulatory landscape for psychedelic substances, which could impact operations.

VANCOUVER, BC / ACCESSWIRE / May 4, 2021 / Core One Labs Inc. (CSE:COOL)(OTC PINK:CLABF)(Frankfurt:LD62) (WKN: A2P8K3) (the "Company" or "Core One") wishes to confirm that management is unaware of any material change in the Company's operations that would account for the recent and significant share price depreciation in the Company's stock.

The Company has been informed by its advisers that sophisticated techniques including spoofing, layering, wash trading, manipulation through multiple brokerage houses and the use of aggressive algorithms targeting the bid/offer designed to give the appearance of weakness in the Company's shares have been utilized in trading in the Company's securities.

Smaller market capitalization companies have been frequent targets of predatory short selling. Experts say that Canada's lax regulations around the practice have allowed abusive forms of short selling to flourish in the Canadian markets. Ontario's capital markets modernization task force has targeted abusive short selling in its final report, which recommended measures that specifically target various forms of short selling, including naked short selling. The Company hopes that amendments to relevant legislation is implemented soon to provide regulators with the necessary authority to prevent these predatory selling techniques.

About Core One Labs Inc.

Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the "technology") which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.

Joel Shacker
Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:

info@core1labs.com
1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

SOURCE: Core One Labs Inc.

View source version on accesswire.com:
https://www.accesswire.com/644532/Core-One-Labs-Unaware-of-Any-Material-Change-that-Would-Account-for-Significant-Share-Price-Depreciation

FAQ

What triggered the share price decline of Core One Labs (CLABF)?

Core One Labs stated that it is unaware of any material changes that would justify the recent decline in its stock price.

What manipulation techniques are being used against Core One Labs (CLABF)?

The company reported potential manipulation techniques like spoofing, layering, and wash trading affecting its share price.

How is Core One Labs (CLABF) addressing predatory short selling?

Core One is advocating for regulatory reforms to combat predatory short selling practices that have affected smaller companies.

What is Core One Labs' focus in the biotechnology sector?

Core One Labs is focused on developing psychedelic medicines and has a patent-pending oral strip technology for their delivery.